HB 2749 Summary

• Establishes a Bitcoin and Digital Assets Reserve Fund administered by the state treasurer to hold airdrops, staking rewards, and interest earned from digital assets held as abandoned property.

• Allows the legislature to direct the state treasurer to deposit 10% of digital assets (excluding bitcoin) held in the reserve fund into the state general fund with legislative approval.

• Defines "digital assets" to include virtual currencies, cryptocurrencies, and other digital-only assets that confer economic, proprietary, or access rights.

• Requires holders of abandoned digital assets to deliver them to the department of revenue or a qualified custodian within 30 days, and allows the custodian to stake digital assets or receive airdrops; after 3 years of remaining unclaimed, any airdrops or staking rewards transfer to the Bitcoin and Digital Assets Reserve Fund.

• Establishes rules for presumption of abandonment for digital assets (3 years after failed written or electronic communication to owner) and allows the department to sell digital assets listed on established exchanges at prevailing market prices or by commercially reasonable methods for unlisted assets.